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Australia’s High Court unanimously ruled 7-0 in favor of the Australian Securities and Investments Commission, finding that Block Earner’s former fixed-yield crypto product required a financial services license. The decision overturns a previous appeal court ruling and sends the case back to the Full Federal Court for consideration of penalties. Block Earner has since exited yield products and is developing crypto-backed home loans after obtaining an Australian Credit License in 2026.
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